MARCONI SHARES.
EXTRAORDINARY CASE. LONDON. Oct. 24. A sensational law case was recently announced. Mr. 0. S. Locker-Lampson, M.P. for North Huntingdonshire, proceeded against Mr. Godfrey Isaacs, managing director of Marconi's Wireless Telegraph Company, and others, claiming a block of 1,100,000 shares in the American Marconi Company. He alleged that these were sold at between 60s and 80s during the Marconi boom, and they should have benefited the English Marconi Company, which only received 21s 3d per sbire. The plaintiff, on behalf of shareholders in the English company, claimed the difference in the two prices.
There was an extraordinary array of legal talent, including nine King's Counsel. The case had opened when Sir John Simon, K.C., entered and informed the Judge *hat the parties had come to an agreement.
The Financial News states that political and legal intervention from the high est quarters brought the case to an end. It protests against the public being deprived of a knowledge of the facts.
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Bibliographic details
New Zealand Herald, Volume LIII, Issue 16375, 1 November 1916, Page 8
Word Count
162MARCONI SHARES. New Zealand Herald, Volume LIII, Issue 16375, 1 November 1916, Page 8
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